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⛽ META Pumps & Rates Hike

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⛽ META Pumps & Rates Hike

Facebook pumps over 28%, interest rate hikes in the US and Europe, Onfolio gets a buy rating and 5 more Flippa Deals. Plus updates on the markets, online business, startups, crypto and real estate.

Investing.io
Feb 2
5
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⛽ META Pumps & Rates Hike

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MARKETS UPDATE

  • The U.S. Federal Reserve delivers an expected 25 basis point hike, whereas the European Central Bank goes with a 50 basis point hike, the 10th in a row, and pledges yet another next month. But like the Fed, the ECB is close to a pause.

  • Powell warned that the Fed can't shield the US economy from a debt default. Large company bankruptcy filings have surged to the highest level since 2010.

  • Facebook ($META) shares pump due to resilient revenue, $40B of share buybacks and Zuckerberg promising a ‘year of efficiency’.

Chart of the day

Twitter avatar for @Schuldensuehner
Holger Zschaepitz @Schuldensuehner
#Fed slows rate increases but signals more to come. Raises benchmark rate by 25 bps to 4.5%-4.75% target range. BUT repeats ‘ongoing increases' will be appropriate. FOMC statement is a bit more hawkish than anticipated as "ongoing increases" (plural) is kept.
Image
7:11 PM ∙ Feb 1, 2023
242Likes86Retweets

ONLINE BUSINESS UPDATE

  • GPT-4 is coming to Bing, providing faster, more human-like answers and making it more of a threat to Google's search engine monopoly. Plus ChatGPT releases a $20/m subscription plan.

  • Search Engine Land’s SEO 2022 in review focussed on E-E-A-T, ChatGPT, Search Essentials.

  • EF Hutton gave digital business portfolio company Onfolio ($ONFO) a buy rating and a price target of $3.


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STARTUPS UPDATE

  • Addressable, a digital fingerprinting startup that claims can match crypto wallets with social media accounts has raised $7.5 million in seed funding.

  • Doug DeMuro’s Cars & Bids auction site raised $37M from The Chernin Group.

  • Hnry, the bookkeeping platform for contractors and freelancers, raised a $35M Series B round, bringing the total raised to $53M.


CRYPTO UPDATE

  • FTX had around $1.4B is cash at end of 2022, which was 19% higher than the amount reported in their bankruptcy filing in November.

  • Coinbase wins dismissal of a lawsuit alleging it sold unregistered securities on its platform.

  • The UK sets out plans to regulate crypto industry after the FTX collapse. The proposals include strengthening rules on crypto lending.


REAL ESTATE UPDATE

  • Freemodel, a pre-sale home rennovation startup, raised a $19.5M Series A round led by QED Investors.

  • Oxford Economics predicts real estate prices in Canada to drop a further 30%, with the worse case being a return to 2014 values.

  • Declining property values are creating a $55B funding shortfall in Europe, a problem for property owners looking to refinance their debt. 


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